Romania Feed

Romania’s largest online retailer eMAG on Thursday launched Freshful by eMAG, a new online hypermarket with fast delivery of fresh products, following a EUR5 million investment in technology, operations and a refrigerated warehouse.

Nestlé, the largest food and beverage company in the world, announces the group-wide financial results for the first 9 months of 2021, reporting an organic growth of 7.6%, with a real internal growth (RIG) of 6 % and pricing of 1.6%. The financial results were based on the evolution of retail sales, being supported by […]

NEPI Residential, the new residential division of NEPI Rockcastle, the largest investor and developer of shopping centers in Central and Eastern Europe, obtained the building permit and will start the construction of Vulcan Residence, the first apartment complex in its portfolio, located in Bucharest’s 13 Septembrie area.

Startup Druid, founded in 2018 by local entrepreneur Liviu Dragan, on Thursday announced a fivefold increase in the monthly recurring revenue and $2.3 million annual recurring revenue at end-September 2021, amid demand on the market of Conversational Artificial Intelligence products.

Cigarette producer BAT contributed RON7.8 billion to Romania’s state budget in the first nine months of 2021, 13% more than in the year-earlier period.

Belgium-held logistic space developer WDP, one of Romania’s most dynamic investors on this market, bought a land plot of more than 60,000 square meters in Timisoara (western Romania) for a future development.

Cattle farm Agroindaf Afumati reached turnover worth RON6.7 million in 2020, slightly higher than in 2019, and net profit of RON860,000, almost half the 2019 level, in line with Finance Ministry data.

Ionut Dumitrescu, founder of Element Industrial, and Sacha Dragic, founder of Superbet, will seal a partnership to develop the ELI Parks logistics park network . Also involved is Anca Damour, former Carrefour executive board member, with a 19-year experience in the real estate and retail sectors.

Do-it-yourself retailer Dedeman, the biggest Romanian entrepreneurial company by turnover, leads in the ranking of Southeastern Europe profits, with a net gain of almost EUR300 million in 2020, shows SEE Top 100 ranking by Seenews, a Sofia-based business news provider.

Romania ranks fifth among European Union Member States regarding the annual inflation rate, with consumer prices increasing by 5.2% in September 2021 compared to September 2020, based on the Harmonized Index of Consumer Prices (HICP), according to Eurostat data.

Hungarian low-cost airline Wizz Air carried just 3 million passengers across the entire network during the April-June 2021 period, but despite an increase compared to the same period in 2020, the load factor is below the 2019 level.

Agricost, the largest grain and oilseeds farm in Romania by cultivated land, located in the Great Braila Island, has opened in 2021 the third alfalfa processing plant. The project of the construction from scratch of the three factories rose to EUR65 million.

Business Review talked to Tolga Banyocu, General Manager at Garanti BBVA Consumer Finance, about the company’s initiative to launch green and sustainable lending products, market trends and consumer behavior of Romanians in 2021, and Garanti BBVA Consumer Finance’s medium-term plans.   What market trends and consumption behavior of Romanians did you notice in 2021? Romania’s secret to recovery after […]

Publicis Groupe CEE’s agencies won a total of 31 Drums including 5 Grand Prix and special awards including Network of the Year, #2 and #3 Agency of the Year and Creative Director of the Year for Jorg Riommi. The company’s Bucharest agency took home 14 awards (2 Grand Prix, 6 Gold, 4 Silver, and 2 Bronze) […]

Cegeka, a leading provider of IT&C solutions, has entered into a partnership with DAS Solutions from Chisinau, Moldova. The new partnership is an ‘asset deal’ in which Cegeka takes over 25 employees and 12 international customer contracts. Neither party disclosed any financial details about the acquisition.   Growth in technological expertise DAS Solutions builds and […]

Globalworth, the leader of the Romanian office market, announces that the newly refurbished lobby in its class “A” TCI office building in Bucharest is ready to host its visitors and tenants which include Mindspace, Tradeshift, Cegeka, E&Y, Hidroelectrica, Deutsche Bank and Anima.   Following the strategic positioning pillar, Globalworth – PLACE TO GROW -, the […]

Nooka Space start-up continues its expansion and announces the launch of the largest network of smart proximity offices in Romania, in Cluj Napoca.   So far, the first five such units have been installed, both in the central and peripheral areas of Cluj, in order to be easily accessible by people who need modern workspaces […]

Law firm Wolf Theiss has provided legal assistance to lender Banca Comerciala Romana (BCR) for the latter’s first issuance of senior preferential green bonds worth RON500 million, based on BCR’s Multi Issuer EMTN program.

Approximately three quarters of businesses in the financial and consumer sectors have a false sense of cyber security caused by the positive self-evaluation of their capabilities and their lack of basic defense efforts, according to the latest editions of Deloitte Cyber Surveys for the financial and consumer sectors. More than 70% of respondents ranked their […]